LONDON--(BUSINESS WIRE)--Technavio
analysts forecast the global golf cart market to grow at a CAGR close to 6%
during the forecast period, according to their latest market research
report.

The introduction of solar-powered golf carts is one of the major trends
being witnessed in the global
golf cart market 2018-2022. With prices of electricity, petrol,
and gas rising, end-users have begun using solar-operated vehicles,
including golf carts. Solar-operated golf carts require minimal
maintenance costs and source solar energy for functioning. Solar panels
are installed in electric golf carts for absorbing solar energy to
charge the battery.

According to Technavio analysts, one of the key factors contributing to
the growth of the global golf cart market is the upcoming new golf
courses:

Global golf cart market: Growing adoption of
golf carts for zoo transportation and on city streets

Many zoos use golf carts to ferry visitors across the large areas they
cover where walking becomes an arduous task. As golf carts are
fuel-efficient, eco-friendly, and emit less noise than conventional
vehicles, zoos across the world are purchasing golf carts to help
visitors in easily accessing the large swathes they encompass. The
presence of golf carts in city streets is also increasing due to their
portability, fuel efficiency, cost-effectiveness, and ease of parking
features.

According to a senior analyst at Technavio, “Sales of golf carts are
expected to increase significantly during the forecast period given
their growing acceptance by zoos for being potential means of revenue
generation amid visitor numbers growing and a momentous expansion of
zoos across the world.”

Global golf cart market: Segmentation analysis

The global golf cart market research report provides market segmentation
by product (gasoline-powered golf carts and electric-powered golf
carts), by the application (commercial use and personal use), and by
region (the Americas, EMEA, and APAC). It provides an in-depth analysis
of the prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

Of the two major products, the electric-powered segment held the largest
market share in 2017, contributing to over 85% of the market. This
application segment will dominate the global market throughout the
forecast period.

The Americas held the largest share of the market in 2017, accounting
for close to 60% share. It was followed by APAC and EMEA respectively.
The dominance of the American market is due to the growing adoption of
technologically advanced golf carts.

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem

Market characteristics

Market segmentation analysis

Market Sizing

Market definition

Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison

Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered

Vendor classification

Market positioning of vendors

Competitive scenario

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